Loan Comparison: 3.76% vs 6.5%
7239 Withers, Colorado Springs, CO 80922 · 5bd/4ba · $555,000
List Price
$555,000
Assumable Rate
3.76%
Remaining Balance
$447,293
Equity Gap
$106,862
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$106,862
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 3.76% + gap loan
$2,682/moAssumed loan: $2,074/mo
Gap financing: $608/mo
$650less per month with the assumable
Your Savings on This Property
7239 Withers, Colorado Springs · 3.76% VA vs 6.5% conventional
$650
per month
$7,803
per year
$234,091
over 30 years
$233,246
interest saved
How gap financing works: The equity gap ($106,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($79,112 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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